WPI: Country's wholesale inflation declined in July; came down to 2.04 percent as against 3.36 percent in June
WPI: The Department for Promotion of Industry and Internal Trade (DPIIT) wrote on the social media platform 'X' that the annual rate of inflation based on WPI was 2.04 percent in July 2024, while it was 3.36 percent in June 2024.
After the retail inflation rate, now there is relief news on the wholesale inflation front as well. The country's wholesale inflation rate came down to 2.04 percent in July. This information came to light from the official data released by the government on Wednesday. Wholesale Price Index (WPI) based inflation was 3.36 percent in June.
The Department for Promotion of Industry and Internal Trade (DPIIT) wrote on the social media platform 'X', 'The annual rate of inflation based on WPI was 2.04 percent in July 2024, while it was 3.36 percent in June 2024. The annual rate of inflation of primary products of the Wholesale Price Index was 3.08 percent in July 2024, while it was 8.80 percent in June 2024. The annual rate of inflation of fuel and electricity increased to 1.72 percent, which was 1.03 percent in June 2024.
According to DPIIT, the annual rate of inflation of manufactured products of the Wholesale Price Index increased from 1.43 percent in June 2024. It increased to 1.58 percent in July 2024. The decline in the Wholesale Price Index in July was in line with the retail inflation data of this month. According to the data released earlier this week, retail inflation in July had come down to a five-year low of 3.54 percent.
The Reserve Bank of India, in the Monetary Policy Committee meeting of August, with the aim of controlling inflation, decided to keep the policy interest rates unchanged at 6.5% for the ninth consecutive time.
